BLM Oil and Gas Lease Sale Nets over $22 Million,
State of Wyoming to Get Nearly Half

The Bureau of Land Management (BLM) generated more than $22 million for leasing rights and rental fees on parcels offered at the BLM's quarterly Federal oil and gas lease auction held in Cheyenne on Feb. 7. Almost half of the bid and rental receipts go to the State of Wyoming.

Bids totaling $22,116,050.50 ranged from the federally mandated minimum of $2.00 per acre to a high bid of $2,625.00 per acre. Successful bidders also pay a $150 per parcel one-time administrative fee and a yearly rental of $1.50 per acre for the first five years of the lease and $2 per acre in years six through 10. A total of 168,737 acres in 185 parcels were sold, representing 88 percent of the acreage offered by the BLM in this sale.

The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, May 1, 2012, in Cheyenne.

February 7, 2012 Wyoming Competitive Sale Results Summary

Parcels Offered

204

Parcels Sold

185

% Parcels Sold

90.69%

Acres Offered

190,531.320

Acres Sold

168,737.890

% Acres Sold

88.56%

Average Bid/Acre For Acres Offered For Acres Sold

$114.60 $129.40

Average Bid/Parcel For Parcels Offered For Parcels Sold

$107,034.90$118,027.68

Highest Bid/Acre

$2,625.00

Parcel with High Bid/Acre

131

Highest Bid/Parcel

$2,332,000.00

Parcel with High Total Bid

109

Total Bonus Bid

$21,835,120.00

Total Rental Due

$253,180.50

Total Administrative Fees Due

$27,750.00

Total Receipts Due

$22,116,050.50

The BLM manages more than 245 million acres of public land, the most of any Federal agency. This land, known as the National System of Public Lands, is primarily located in 12 Western states, including Alaska. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. The BLM's mission is to manage and conserve the public lands for the use and enjoyment of present and future generations under our mandate of multiple-use and sustained yield. In Fiscal Year 2013, the BLM generated $4.7 billion in receipts from public lands.